XxDesmusxX.NET Simplicity is underrated.

Updated: Meebo Confirms Funding From Sequoia

Meebo Funded by Sequoia?

I just got back from back-to-back (to back) holiday parties and the rumors are flying that Meebo, which I wrote about a couple of days ago noting their stellar growth, has closed funding from Sequoia Capital at a $10 million pre-money valuation. I have not confirmed this with the company and it could be inaccurate. That’s quite a valuation for a company that is barely 12 weeks old.

Wow...they are just all over the news these days.

Update1:

According to this article it’s been confirmed that Sequoia has promised significant funding to this project:

No real details yet, but I’m hearing that the pre-money valuation was $9 million, not $10 million as I originaly reported. I assume the investment was in the $3 - $4m range.

The definitely raises the question “Are we seeing the Tech Bubble 2.0?” Hmm...there is a strange amount of capital that is being invested in several up and coming web 2.0 companies, but we’ll have to wait and see if the capital risks will pay off.